New York—WebMediaBrands has acquired Palo Alto, Calif.-based Inside Network for $7.5 million in cash and 4.18 million shares of WebMediaBrands common stock (trading at $1.69 early on Thursday), giving the shares a value of about $7.1 million.
Inside Network publishes the blogs Inside Facebook, Inside Mobile Apps and Inside Social Games. Additionally, the company produces research services such as Inside Facebook Gold, Facebook Marketing Bible and Inside Virtual Goods. WebMediaBrands said Justin Smith, founder of the Inside Network, will continue as VP-social media.
WebMediaBrands adds the Inside Network properties to social media blogs it already owns, such as AllFacebook, AllTwitter and Social Times.